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2nd August, 2019
To,
The Secretary
BSELimited
PJTowers,
Dalal Street,
Mumbai- 400 001
Scrip Code: 532706
Dear Sir / Madam,
IN LIVE de-MOVIE
The Manager
National Stock Exchange of India Limited
Exchange Plaza, 5th Floor, Plot No C/1,
G Block, Bandra-Kurla Complex,
Bandra (East), Mumbai - 400 051
Scrip Code: INOXLEISUR
Sub: Standalone and Consolidated Un-audited Financial Results of the Company and
Limited Review Report for the quarter ended 30th June, 2019, as per Regulations 33 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Pursuant to Regulations 33 (3)(a) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Board of Directors of the Company at its Meeting held today have taken on record,
the enclosed Standalone and Consolidated Un-audited Financial Results of the Company for the quarter
ended 30th June, 2019.
As required under Regulations 33 (3)(c)(i) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, Limited review Report for the quarter ended 30th June, 2019 is also attached herewith.
The meeting of the Board of Directors commenced at 11:30 a.m. and concluded at 01:30 p.m.
You are requested to take the same on record.
Thanking you.
Yours faithfully,
For INOX Leisure Limited
Parthasarathy Iyengar
Company Secretary
Encl: a/a.
INOX LEISURE LTD. 5th Floor, Viraj Towers, Next to Andheri Flyover, Western Express Highway, Andheri (East), Mumbai 400 093, India. Tel (91 22) 4062 6900 • Fax : (91 22) 4062 6999 • E: contact@inoxmovies.com • www.inoxmovies.com
Registered Office : ABS Towers, Old Padra Road, Vadodara 390 007 • Tel (91 265) 6198111 • Fax (91 265) 2310312 • CIN: L92199GJ1999PLC044045
Kulkarni and Company Chartered Accountants
Flat No.3, First Floor, Shree Vishnu Complex, S.No. 120N1208, Plot No. 545/6, Sinhgad Road, Pune - 411030 Contact: +91 9850898715 email: nmk@kulkarnico.com
Limited Review Report on Standalone Quarterly Unaudit ed Financial Results of lnox Leisure Limit ed pursuant to the Regulation 33 of the SEBI {Listing Obligations and Disclosure Requirements) Regulations,
2015 (as amended)
To the Board of Directors of lnox Leisure Limited
We have reviewed the accompanying statement of unaudited standalone financial results of lnox Leisure
Limited (the "Company") for the quarter ended 30 June 2019 (the "Statement"), attached herewith, being
submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended.
This Statement which is the responsibility of the Company's management and approved by the Board of
Directors, has been prepared in accordance with recognition and measurement principles laid down in the
Indian Accounting Standard 34 on 'Interim Financial Reporting' (Ind AS 34), prescribed under Section 133 of
the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally
accepted in India. Our responsibility is to issue a report on the Statement based on our review.
We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410,"Review of
Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of
Chartered Accountants of India. This standard requires that we plan and perform the review to obtain
moderate assurance as to whether the Statement is free of material misstatements. A review is limited
primarily to inquiries of the Company personnel and analytical procedures applied to financial data and thus
provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express
an audit opinion.
Based on our review conducted as above, nothing has come to our attention that causes us to believe that
the accompanying Statement prepared in accordance with applicable accounting standards i.e. Indian
Accounting Standards ("Ind AS") issued under Section 133 of the Companies Act, 2013, read with relevant
rules issued thereunder and other recognised accounting practices and policies has not disclosed the
information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any
material misstatement.
For Kulkarni and Company Chartered Accountants Firm Registration No. 140959W
~~~ A D Talavlikar Partner Mem. No. 130432
Place: Vadodara Date: 2 August 2019 UDIN: 19130432AAAAAD8392
Sr.No
1
2
3
4
s 6
7
IN LIVE~MOVIE
INOX LEISURE LIMITED Registered Office: ABS Towers, Old Padro Road, Vadodara 390 007, Gujarat. Tel : (91 265) 6198111 Fax: [91 265) 2310312 Email: contact inoxmovies.com I Website: www.inoxrnovies.com CIN: L92199GJ1999PLC044045 .
STATEMENT OF UNAUDITED STANDALONE FJNANClAL. RESULTS FOR THE QUARTER ENDED 30 JUNE. 2019
Particulars Quarter ended 30-06-2019 31-03-2019
(Unaudited) (Audited)
Income (a) Revenue from operations (net of taxes) 49,301 47,884
(b) Other income 310 524
Total Income (a+ b) 49,611 48,408
Expenses a) Cost of food and beverages 3,329 3,167
b) Exhibition cost 12,989 12,722
c) Employee benefits expense 3,509 3,085
d) Finance costs 5,088 378
e) Depreciation and amortization expense 6,080 2,485
f) Impairment loss (net) - 82
g) Rent and common facility charges 3,019 8,687
h) Other expenses 11,445 10,487
Total expenses (a) to (h) 45,459 41,093 Profit before exceptional items & tax (1-2) 4,152 7,315
Exceptional Items (see note no. 3) - 500
Profit before tax (3-4) 4,152 6,815
Tax expense Current tax 2,190 2,150
Deferred tax f737) 314
Taxation pertaining to earlier years - [456)
Profit for the period (5-6) 2,699 4,807
(Rs. in Lakhs) Year ended
30-06-2018 31-03-2019 (Unaudited) (Audited)
41,494 1,69,218
282 1,490
41,776 1,70,708
2,719 11,249
10,969 44,421
2,628 11,517
692 2,367
2,271 9,549
- 82
7,407 31,867
9,422 39,249
36,108 1,50,301 5,668 20,407
- 500 5,668 19,907
1,858 6,010
112 1,006
- (456) 3,698 13,347
Page 1 of 4
Sr. No
8
9
10
11
12
13
INOX LEISURE LIMITED IN LIVE a.MOVIE
Registered Office: ABS Towers, Old Padro Road, Vadodara 390 007, Gujarat. Tel: (91 265) 6198111 Fax: (91 265) 2310312 Email: con !od@inoxmovies.corn I Website: www.lnoxmovies.com CIN: L92199GJ1999PLC044045
Particulars
30-06-2019 (Unaudited)
Other comprehensive Income A) Items that will not be reclassified to Profit & Loss (i) Actuarial gain/[loss) on employee defined benefit plan (172) [ii) Tax on above 60 Total Other Comprehensive Income (1121 Total Comprehensive Income for the period comprising Net Profit for the 2,587 period & Other Comprehensive Income (7+8) Earnings Before Interest, Tax, Depreciation & amortization and Exceptional 15,010 items (EBITDAE) and Other income Paid-up equity share capital (face value Rs. 10 per share) 10,263 Other equity excluding revaluation reserves (net of Interest in lnox Benefit Trust) Earnings Per Share of Rs. 10 each (see note no. 5) (a) Basic 2.75* (b) Diluted 2.74*
(*) Not annualized
Notes:
(Rs. in Lakhs)
Quarter ended Year ended
31-03-2019 30-06-2018 31-03-2019 (Audited) (Unaudited) (Audited)
7 10 9 (2) (3) (3) s 7 6
4,812 3,705 13,353
9,736 8,349 30,915
10,261 9,617 10,261
86,125
4.98* 4.03* 14.20 4.97* 4.03* 14.19
1. The above results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors at its meeting held on 2 August, 2019. The Statutory Auditors of the Company have carried out Limited Review of the above results for the quarter ended 30 June, 2019 and have issued unmodified review report.
2. The figures for the quarter ended 31 March, 2019 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the financial year.
3. During the previous quarter/ year, exceptional item was in respect ofone of the multiplexes of the Company where the jurisdictional High Court has passed an order against the Company regarding grant of entertainment tax exemption. Even though the Company is contesting the matter, the amount of entertainment tax exemption of Rs. 410 Lakhs recognized earlier, along with interest of Rs. 90 Lakhs payable thereon, was charged to the Statement of Profit and Loss.
Page 2 of 4
IN L I V E 1,{,, M O V I E
INOX LEISURE LIMITED Registered Office: ABS Towers, Old Padro Road, Vadodara 390 007, Gujarat. Tel: (91 265) 6198111 Fax: (91 265) 2310312 Email: con lact@jnoxmovies,com I Website: www.jnoxmovies.corn CIN: L92199GJ l 999PLC044045
4, During the year ended 31st March, 2018, the Company had acquired remaining 50% of the equity shares in Swanston Multiplex Cinemas Private Limited ("SMCPL") and consequently SMCPL has become a wholly owned subsidiary of the Company with effect from 5 March, 2018, SMCPL was engaged in the business of operating and managing multiplex cinema theatre in India, The Board has approved the Scheme of Amalgamation (Merger by absorption) ("the Scheme") under Section 230 to 232 and other applicable sections of the Companies Act, 2013, for amalgamation of SM CPL with the Company, subject to the approval of the Scheme by the Shareholders and Creditors of the respective Companies, Hon'ble National Company Law Tribunal, Bench at Ahmedabad and Mumbai. The Scheme has been approved by the Shareholders, Secured Creditors and Unsecured Creditors of the Company in their meeting held on 31 August, 2018. Further, on 15 October, 2018 the Hon'ble National Company Law Tribunal, Bench at Ahmedabad has approved the Scheme subject to any directions as may be given by Hon'ble National Company Law Tribunal, Bench at Mumbai ("NCL T Mumbai"). Pursuant to an order of the NCLT Mumbai dated 20 November, 2018 the meeting of the Equity Shareholders of the SM CPL was held on 5 January, 2019 and Chairman's Report on result of the Meeting of shareholders of SM CPL has been filed with NCLT Mumbai on 14 January, 2019. Once approved, the Scheme will be effective from the appointed date i.e. 1 April, 2018. The effect to the said Scheme will be given after obtaining the necessary approvals and completion of other legal formalities .
5. 43,50,092 Equity Shares of the Company, held by Inox Benefit Trust, represent Treasury Shares issued pursuant to the Composite Scheme of Amalgamation of Company's erstwhile subsidiary Fame India Limited ("Fame") and subsidiaries of Fame with the Company and are excluded while computing the Earnings Per Share.
6. During the quarter ended 30 June, 2019, 20,000 equity shares of Rs .10/- each are allotted pursuant to the exercise of options under the Company's Employees Stock Option Scheme.
7. The Ministry of Corporate Affairs (MCA) has notified Ind AS 116 "Leases", which is effective for accounting periods beginning on or after 1 April, 2019. The Company has transitioned to Ind AS 116 with effect from 1 April, 2019 using 'modified retrospective approach'. Under this approach, the Company has recognized the right of use assets at its carrying amount as if the standard had been applied since the lease commencement date, but discounted at its incremental borrowing rate at the date of initial application and lease liability measured at the present value of the remaining lease payments. Accordingly, the Company has recognized Right of Use Assets (ROU) of Rs 1,66,301 lakhs and lease liabilities of Rs 2,19,224 lakhs and the cumulative effect of Rs 34,429 lakhs (net of deferred taxes Rs 18,494 lakhs) is debited to retained earnings. Further, the comparatives for the previous periods are not required to be restated.
Page 3 of 4
IN X LIVE d.MOVIE
INOX LEISURE LIMITED Registered Office: ABS Towers, Old Padro Road, Vadodara 390 007, Gujarat. Tel: (91 265) 6198111 Fax: (91 265) 2310312 Email: contac t@inoxmovies.com I Website: www.inoxmovles.com CIN: L92199GJ 1999PLC044045
The effect of the transition to Ind AS 116 on the Statement of Profit & Loss for the quarter ended 30 June, 2019 is as under-
Quarter ended 30 Particulars June, 2019
(as reported)
Rent & common facilities charges 3,019 Depreciation and amortization expense 6,080 Finance costs 5,088 EBITDAE 15,010 Profit before tax 4,152 Profit after tax 2,699 Earnings per share of Rs 10 each - not annualized (a) Basic (Rs. ) 2.75 fa) Diluted (Rs.) 2.74
8. The Company operates in a single operating segment - Theatrical Exhibition.
Place : Mumbai Date: 2 Aug 2019
Ind AS 116 Impact
increase/(decrease)
(6,135) 3,491 4,827 6,135
(2,183) (1,420)
(1.44) (1.44)
(Rs. in Lakhs) Quarter ended 30
Quarter ended 30 June, 2019 (without Ind AS 116 June, 2018
impact) (as reported)
9,154 7,407 2,589 2,271
261 692 8,875 8,349 6,335 5,668 4,119 3,698
4.19 4.03 4.18 4.03
On behalf of the Board of Directors For INOX Leisure Limited
Director
Page 4 of 4
Kulkarni and Company Chartered Accountants
Flat No.3, First Floor, Shree Vishnu Complex, S.No. 120N120B, Plot No. 545/6, Slnhgad Road, Pune - 411030 Contact: +91 9850898715 email: nmk@kulkarnico.com
Independent Auditor's Review Report on consolidated unaudited quarterly financial results of lnox Leisure Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (as amended)
To the Board of Directors of lnox Leisure Limited
1. We have reviewed the accompanying statement of unaudited consolidated financial results of lnox Leisure Limited (the "Parent" ) and its subsidiaries {the Parent and its subsidiaries together referred to as the "Group" ) for the quarter ended 30 June 2019 (the "Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
2. This Statement which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standard 34 on 'Interim Financial Reporting' (Ind AS 34), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based
on our review.
3. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance t hat we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
4. The Statement includes t he results of lnox Leisure Limited and of t he following entities: Subsidiaries: Shouri Properties Private Limited, Swanston Multiplex Cinemas Private Limited, INOX
Benefit Trust, lnox Leisure Limited - Employees' Welfare Trust.
5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditor referred to in paragraph 6 below, nothing has come to our attention t hat causes us to believe that t he accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or t hat it contains any material misstatement.
6. We did not review the interim financial results of two subsidiaries included in the consolidated unaudited financial results, whose interim financial results reflect the Group's share in total revenue of Rs. 12.35 Lakhs and total net profit after tax and total comprehensive income of Rs. 1.40 Lakhs for the quarter ended 30 June 2019, as considered in the consolidated unaudited financial results. These financial results have been reviewed by other auditor whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditor and the procedures performed by us as stated in paragraph 3 above.
Our conclusion on the Statement is not modified in respect of the above matter.
AD Talavlikar Partner Mem. No. 130432
Place: Vadodara Date: 2 August 2019 UDIN: 19130432AAAAAE6718
\
IN X INOX LEISURE LIMITED Registered Office: ABS Towers, Old Padro Road, Vadodara 390 007, Gujarat. Tel: (91 265) 6198111 Fax: (91 265) 2310312
Sr. No
1
2
3
4
5
6
7
Email: con1oc l@inoxmovies.com I Website: www.inoxmovies.com CIN: L92199GJ l 999PLC044045
STATEMENT OF UNAUDrTED CONSOLIDATED FINANCIAL RESULTS FOR THE OU ARTER ENDED 30 I U NE. 2019
Particulars Quarter ended 30-06-2019 31-03-2019 30-06-2018 (Unaudited) (Audited) (Unaudited)
Income (a) Revenue from operations (net of taxes) 49,301 47,884 41,494
(b) Other income 312 525 282
Total Income (a+ b) 49,613 48,409 41,776 Expenses a) Cost of food and beverages 3,329 3,167 2,719
b) Exhibition Cost 12,989 12,722 10,969
c) Employee benefits expense 3,509 3,085 2,628
d) Finance costs 5,088 378 692 e) Depreciation and amortization expense 6,080 2,485 2,271
f) Impairment loss (net) - 82 -g) Rent and common facility charges 3,018 8,686 7,406
h) Other expenses 11,446 10,488 9,422
Total expenses (a) to (h) 45,459 41,093 36,107 Profit before Exceptional Items & Tax (1-2) 4,154 7,316 5,669 Exceptional Items (see note no. 4) - 500 -Profit before tax (3-4) 4,154 6,816 5,669 Tax expense: Current tax 2,190 2,150 1,858
Deferred tax (7371 314 112 Taxation pertaining to earlier years . (4561 .
Profit for the period (5-6) 2,701 4,808 3,699
(Rs. in Lakhs) Year ended 31-03-2019 (Audited)
1,69,218
1,492
1,70,710
11,249
44,421
11,517
2,367
9,549
82
31,864
39,251
1,50,300 20,410
500
19,910
6,011
1,006
(456) 13,349
Page 1 of 5
IN X INOX LEISURE LIMITED Registered Office: ABS Towers. Old Padro Road, Vadodara 390 007. Gujarat. Tel: (91 265) 6198111 Fax: (91 265) 2310312 Email: confocf@inoxmovies.con, I Website: www.lnoxmovles.com CIN: L92l 99GJ 1999PLC044045
Sr. Particulars No
8 Other comprehensive Income A) Items that will not be reclassified to Profit & Loss
(i) Actuarial gain/(loss) on employee defined benefit plan
(ii) Tax on above Total Other Comprehensive Income
9 Total Comprehensive Income for the period comprising Net Profit for the period & Other Comprehensive Income (7+8)
10 Profit for the year attributable to : - Owners of the Company
- Non-Controlling interest
11 Other comprehensive income for the year attributable to . Owners of the Company
- Non-Controlling interest
12 Total comprehensive income for the year attributable to : . Owners of the Company . Non-Controlling interest
13 Earnings Before Interest, Tax, Depreciation & amortization and Exceptional Items fEBITDAE) and Other Income
14 Paid-up equity share capital (face value Rs. 10 per share)
15 Other equity excluding revaluation reserves (net of Interest in lnox Benefit Trust)
16 Earnings Per Share of Rs. 10 each (see note no.6)
(a) Basic (Rs.)
(b) Diluted (Rs.)
(*) Amount below Rs. 1 lakh (**) Not annualized
30-06-2019 (Unaudited)
(172)
60 (112)
2,589
2,701
*
(112) .
2,589 *
15,010
10,263
2.75** 2.75**
Quarter ended Year ended
31-03-2019 30-06-2018 31-03-2019 (Audited) (Unaudited) (Audited)
7 10 9 (2) (3) (3)
5 7 6
4,813 3,706 13,355
4,808 3,699 13,349 * * *
5 7 6 - - -
4,813 3,706 13,355 * * *
9,736 8,350 30,916
10,261 9,617
10,261
86,120
4.98** 4.03** 14.20 4.97** 4.03** 14.19
Page 2 of 5
IN X LIVE de-MOVIE
INOX LEISURE LIMITED Registered Office: ABS Towers, Old Padro Road, Vadodara 390 007, Gujarat. Tel: (91 265) 6198111 Fax: (91 265) 2310312 Email: contoct@inoxmovies.com I Website: www.inoxmovies.com CIN: L92l 99GJ l 999PLC044045
Notes: 1. The above results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors at its meeting held on 2 August 2019. The Statutory
Auditors of the Company have carried out Limited Review of the above results for the quarter e nded 30 June, 2019 and have issuea unmodified review report.
2.
3.
4.
5.
The figures for the quarter ended 31 March, 2019 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the financ ia l year.
Under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requ ireme nts) Regulations, 2015, the Company has opted to publish Consolidated Financial Results. The Standalone Financial Results are availaolc at the Company's website www.inoxmovies.com and the websites of the Stock Exchanges, at www.bseindia.com and www.nseindia.com. Key Standalone Financial information is give n below:
fRs. in Lakhs)
Sr. No Particulars Quarter ended Year ended
30-06-2019 31-03-2019 30-06-2018 31-03-2019 1 Revenue from operations (net of taxes) 49,301 47,884 41,494 1,69,218 2 Net profit before tax 4,152 6,815 5,668 19,907 3 Net profit after tax 2,699 4,807 3,698 13,347
4 Total comprehensive income for the period comprising net profit for the period & other
2,587 4,812 3,705 13,353 comprehensive income
5 Earnings Before Interest, Tax, Depreciation & amortisation and Exceptional items
15,010 9,736 8,349 30,915 (EBITDAE) and Other income
During the previous quarter /year, exceptional item was in respect of one of the multiplexes of the Group where the jurisdictional High Court has passed an order against the Company regarding grant of entertainment tax exemption. Even though the Group is contesting the matter, the amount of entertainment tax exemption of Rs. 410 Lakhs recognized earlier, along with interest of Rs. 90 Lakhs payable thereon, was charged to the Statement of Profit and Loss.
During the year ended 31 March, 2018, the Company had acquired remaining 50% of the equity shares in Swanston Multiplex Cinemas Private Limited ("SM CPL") and consequently SMCPL has become a wholly owned subsidiary of the Company with effect from 5 March, 2018. SM CPL was engaged in the business of operating and managing multiplex cinema theatre in India. The Board has approved the Scheme of Amalgamation (Merger by absorption) ("the Scheme") under Section 230 to 232 and other applicable sections of the Companies Act, 2013, for amalgamation of SM CPL with the Company, subject to the approval of the Scheme by the Shareholders and Creditors of the respective Companies, Hon'ble National Company Law Tribunal, Bench at Ahmedabad and Mumbai. The Scheme has been approved by the Shareholders, Secured Creditors and Unsecured Creditors of the Company in their meeting held on 31 August, 2018. Further, on 15 October, 2018 the Hon'ble National Company Law Tribunal, Bench at Ahmedabad has approved the Scheme subject to any directions as may be given by Hon'ble National Company Law Tribunal, Bench at Mumbai ("NCLT Mumbai"). Pursuant to an order of the NCLT Mumbai dated 20 November, 2018 the meeting of the Equity Shareholders of the SM CPL was held on 5 January, 2019 and Chairman's Report on result of the Meeting of shareholders of SM CPL has been filed with NCL T Mumbai on 14 January, 2019. Once approved, the Scheme will be effective from the appointed date i.e. 1 April, 2018. The effect to the said Scheme will be given after obtaining the necessary approvals and completion of other legal formalities.
Page 3 of 5
IN LIVE c.l-e: MOVIE
INOX LEISURE LIMITED Registered Office: ABS Towers, Old Padro Road, Vadodara 390 007, Gujarat. Tel: (91 265) 6198111 Fax: (91 265) 2310312 Email: conlacl@inoxmovies.com I Website: www.inoxmovies.com CIN: L92199GJ l 999PLC044045
6. 43,50,092 Equity Shares of the Company, held by Inox Benefit Trust, represent Treasury Shares issued pursuant to the Composite Scheme of Amalgamation of Company's erstwhile subsidiary Fame India Limited ("Fame") and subsidiaries of Fame with the Company and are excluded while computing the Earnings Per Share.
7. During the quarter ended 30 June 2019, 20,000 equity shares of Rs.10/- each are allotted pursuant to the exercise of options under the Company's Employees Stock Option Scheme.
8. The Ministry of Corporate Affairs (MCA) has notified Ind AS 116 "Leases", which is effective for accounting periods beginning on or after 1 April, 2019. The Group has transitioned to Ind AS 116 with effect from 1 April, 2019 using 'modified retrospective approach'. Under this approach, the Group has recognised the right of use asset at its carrying amount as if the standard had been applied since the lease commencement date, but discounted at its incremental borrowing rate at the date of initial application and lease liability measured at the present value of the remaining lease payments. Accordingly, the Group has recognized Right of Use Assets (ROU) of Rs 1,66,301 lakhs and lease liabilities of Rs 2,19,224 lakhs and the cumulative effect of Rs 34,429 lakhs (net of deferred taxes Rs 18,494 lakhs) is debited to retained earnings. Further, the comparatives for the previous periods are not required to be restated.
The effect of the transition to Ind AS 116 on the Statement of Profit & Loss for the quarter ended 30 June, 2019 is as under-
(Rs. in Lakhs)
Quarter ended 30 June, Ind AS 116 Quarter ended 30 June, Quarter ended 30 June, 2019
Particulars 2019 Impact (without Ind AS 116 2018
(as reported) Increase/ (decrease) impact) (as reported)
Rent & common facilities charges 3,018 (6,1351 9,153 7,406 Depreciation and amortization expense 6,080 3,491 2,589 2,271
Finance costs 5,088 4,827 261 692 EBITDAE 15,010 6,135 8,875 8,350 Profit before tax 4,154 (2,183) 6,337 5,669 Profit after tax 2,701 (1,420) 4,121 3,699 Earnings per share of Rs 10 each - not annualized (a) Basic (Rs.) 2.75 (1.44) 4.19 4.03 (a) Diluted (Rs.) 2.75 (1.44) 4.19 4.03
Page 4 of 5
IN INOX LEISURE LIMITED Registered Office: ABS Towers, Old Padro Road, Vadodara 390 007, Gujarat. Tel: (91 265) 6198111 Fax: (91 265) 2310312 Email: c on lac t@inoxmovies.com I Website: www.inoxrnovies.com CIN: L92199GJ 1999PLC044045
9. The Group operates in a single operating segment - Theatrical Exhibition.
Place : Mumbai Date: 2 August, 2019
On behalf of the Board of Directors For INOX Leisure Limited
Siddharth Jain Director
Page 5 of 5
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